JPMorgan Chase & Co. Increases Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its target price boosted by research analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.20% from the stock’s previous close.

A number of other analysts have also recently weighed in on ROKU. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Macquarie reduced their price target on Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.75.

Roku Trading Up 0.1 %

ROKU opened at $77.45 on Wednesday. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of -19.41 and a beta of 2.06. Roku has a 1 year low of $48.33 and a 1 year high of $108.84. The stock has a fifty day moving average price of $63.03 and a 200 day moving average price of $61.07.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.76) earnings per share. As a group, sell-side analysts forecast that Roku will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,945 shares of company stock valued at $3,465,135. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB bought a new position in Roku in the 1st quarter valued at $1,180,000. SG Americas Securities LLC boosted its position in Roku by 238.6% in the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after buying an additional 51,815 shares during the last quarter. Norges Bank bought a new position in Roku in the 4th quarter valued at $90,386,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in Roku in the 4th quarter valued at $105,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.